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Role of the ERP System in the Growth of the Pharmaceutical Companies

Pharmaceutical industry us currently facing innumerable challenges like stringent regulatory requirements, radical healthcare reforms, a demanding customer-base, global competition, and unpredictable market trends. Today customers are extremely focused upon the quality of the healthcare products, which they wish to access at compelling prices. As a result, pharma manufacturers and distributors are looking to find ways to reduce cost, streamline operations, and maximize efficiency, thereby because creating an increased need for an ERP system in the pharmaceutical industry.

An ERP system in the pharma manufacturing unit functions as the central nervous system in the human body. It connects and integrates the autonomous business processes like planning, purchasing, inventory, sales, marketing. This allows seamless integration of all departments, as enhancing transparency in operations, and hassle-free functioning of the unit.

How ERP System Benefit Pharmaceutical Manufacturers and Distributors:

Regulatory Requirements

With an ERP system pharmaceutical businesses can obtain a competitive edge by ensuring compliance with regulatory requirements because FDA 21 CFR, quality management, validation protocols, quality assurance as GMP norms. ERP software also facilitates growth in the pharma business in the global market. With regulatory requirements to provide a progressive business model meeting all industry norms and government regulations.

Marketing and Sales Management

With a robust ERP system in place, pharmaceutical businesses instantly perform sales order processing. And contract management, besides helping them align their sales and marketing activities. This system is as such also effective in maintaining customer records and history, creating a precise quotation, automatically migrating information to a sales order. Developing automated marketing workflows, and executing promotional campaigns for driving ROI.

ERP system helps in Inventory and Material Management

ERP system used in the pharmaceutical sector has dedicated modules for controlling material wastage and to monitor inventory levels. Because, the module also helps to identify material requirements for production, sets targets, monitors usage of material scientifically. Timely formulates inventory status reports, develop triggers for procurement, and reconcile inventory balances. 

Distribution Management

As the batch and lot tracking module is another significant feature of the ERP software. Because that helps pharma businesses to monitor batches from the material requisition stage to the in-progress quality check stage. Pharma manufacturers with the help of ERP software can monitor a batch or lot work-in-progress and deliver status remotely.  

Also Read: 5 Questions which needs to be asked by the Organization before buying and Implementing ERP System

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